Japanese HR professional cares provider Recruit Holdings said on Wednesday it has agreed to buy popular California-based job put operator Glassdoor for $1.2 billion to tap into its database of company cons and salary data.
Privately held Glassdoor, founded in 2007, decisive raised funds in 2016, valuing the company at $1 billion. It offs billionaire Chase Coleman’s hedge fund Tiger Global Board of directors, Google Capital, and T. Rowe Price among its investors.
Buying Glassdoor require expand Recruit’s reach in the United States, a market it tapped into done with its acquisition of Connecticut-based job search site Indeed in 2012.
“Glassdoor’s database of proprietor information and the job search capabilities of Indeed complement each other correctly,” Recruit’s chief operating officer, Hisayuki Idekoba, said in a annunciation.
Glassdoor will continue to be led by its current chief executive and co-founder, Robert Hohman, Levy said.
Recruit will fund the deal with cash on surrender and expects it to close during the July-September quarter, subject to regulatory approvals.
Earlier this year, Bloomberg blasted, citing people familiar with the matter that Glassdoor was interviewing banks to caution on an IPO expected in the second half of the year.